Crypto technology has opened up a broad avenue of financial possibilities. Back in 2008 when Bitcoin was launched, most people thought it was a scam. However, fast forward a decade-plus later, and Bitcoin is flying high and there are a bunch of other successful crypto coins on the market.
Nowadays, you can even apply for a cryptocurrency loan. Besides that, you can put your crypto assets in pro-savings or high-yield and earn free coins in terms of interest. In this guide, we will share how you can invest in crypto coins. We will also highlight how you can use your crypto savings to apply for crypto loans.
Investing in Crypto Coins
Nowadays, purchasing crypto coins is very simple. You only need a smartphone or laptop with an internet connection to buy or trade cryptocurrency. You can purchase crypto coins via crypto exchange platforms or peer-to-peer websites. However, if you’re a beginner, we would suggest using a crypto exchange platform.
Before signing up on any crypto exchange platform, there are a couple of things you need to check. Ensure that supports your preferred mode of payment, check the amount of fees they charge for every transaction, and also read reviews from other users. Finding the best crypto exchange site can be quite tricky, especially if you’re a newbie to crypto trading.
Once you’ve found the perfect site, the next step is to sign up for an account. Some exchange accounts might request you to upload a copy of your ID or driver’s license as proof of identity. After your account is verified, you can now add your mode of payment. These days, most crypto exchange platforms allow users to buy crypto from their bank accounts using their debit or credit cards.
How You Can Earn Free Crypto
A while ago, crypto investors relied on trading as their sole means of making profits from cryptocurrencies. Investors would typically purchase crypto when the prices went down and hold them for a while until prices started rising before selling. However, these days, you can take advantage of crypto pro-savings accounts.
One of the best crypto exchange platforms with the best pro-savings service is YouHodler. When it comes to pro-savings accounts, you should check out one that offers the highest APY or annual percentage yield. Pro-savings accounts allow you to earn free interest from your crypto assets.
Earning Instant Crypto Loans
YouHodler also offers crypto loans and fiat loans that are secured using your crypto savings. The interest rates on the loans are also quite low compared to what most fiat banks offer. You can apply for a fiat loan or crypto loan.
You can use the crypto loan calculator to find out which loan plan best fits your needs. The loan approval takes seconds, and you can receive it either in fiat currency (Euro or USD) or in Bitcoin. You can repay your loan through fiat currency or crypto coins.
When using YouHodler, you do not have to sell your crypto assets whenever you need some quick cash. You can also take out crypto loans to invest in new crypto startups and pay up later on once you’ve recouped the capital you put in the investment.
Investing in crypto involves its fair share of risks. Keep in mind that the crypto-verse is not controlled by any organization. As such, you need to be cautious when investing. There are plenty of scammers who prey on new investors by promising high-yield earnings and free transactions.
If you’re looking for a crypto lending service, you need to ensure that you do plenty of research beforehand. Don’t be attracted to cheap loan fees, read the fine print, and understand what is at stake when you’re applying for the crypto loan.
Crypto coins with high liquidity such as Bitcoin and Ethereum are highly valuable. However, their prices are very volatile. If you’re looking to leverage blockchain technology without putting your assets at risk, you can consider investing in stablecoins. The value of stablecoins is always pegged to that of a fiat currency such as USD or the Euro. As such, their value doesn’t fluctuate like that of other crypto coins.